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Bebe Stores Q1 loss widens on markdowns
2015-11-13 12:13:00| Daily apparel & textile news and comment - from just-style.com
US women's wear retailer Bebe Stores has seen its first-quarter loss widen, with sales and margins falling on a combination of poor product acceptance, inventory cancellations and higher markdowns.
Brent crude increases, but on track for weekly loss
2015-11-13 01:00:00| Offshore Technology
Brent crude increased on Friday, but is still on course to gain a weekly loss as increasing stocks weigh on the market.
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Encana writes down more assets, posts US$1.2-billion loss in third quarter
2015-11-12 18:15:40| Oil & Gas - Topix.net
Encana Corp. says it had a US$1.2-billion net loss in the third quarter, mainly as recognition of the impaired value of some of its assets given the current low-price environment. The loss amounted to US$1.47 per share and contrasted with a US$2.8 billion net profit in last year's third quarter, when oil and gas prices were more than double the current levels.
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Lenovo posts quarterly loss on restructuring costs
2015-11-12 09:12:00| Telecompaper Headlines
(Telecompaper) Lenovo reported a net loss of USD 714 million for its fiscal second quarter to September, compared to a profit of USD 262 million a year earlier. The result included USD 599 million in restructuring costs and a USD 324 million one-time charge to clear smartphone inventory. Lenovo said it was on track to realise around USD 650 million in cost savings in the second half of the fiscal year and USD 1.35 billion on an annual basis. Quarterly revenues were still up 16 percent year-on-year to USD 12.2 billion and rose 23 percent excluding currency effects, while the gross margin fell to 13.0 percent from 13.9 a year ago. The sales growth was largely due to the acquisition of Motorola, which helped the Mobile Business Group double revenues year-on-year to USD 2.7 billion. Motorola contributed USD 1.4 billion in revenue. However, the MBG's posted a pre-tax loss of USD 217 million for the quarter. The PC Group saw revenues fall to USD 8.1 billion, and pretax profit was down 17 percent to USD 406 million. Lenovo said it suffered from currency fluctuations, hurting demand in the EMEA region and Brazil. The Enterprise Business Group, which includes servers, storage and software, recorded sales of USD 1.2 billion, up 5.5 times from a year ago thanks to the acquisition of IBM's System x business, which contributed USD 900 million in sales. The enterprise division still had a pretax loss of USD 33 million.
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Lenovo reports $714m quarterly loss
2015-11-12 08:41:49| BBC News | Business | UK Edition
Chinese PC and smartphone maker Lenovo reports a quarterly loss after being hit by restructuring costs.
Tags: reports
loss
quarterly
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